DAYTONA BEACH, Fla., Jan. 17, 2017 /PRNewswire/ -- TopBuild Corp. (NYSE: BLD) the leading purchaser, installer and distributor of insulation products to the U.S. construction industry, has acquired Midwest Fireproofing, a heavy commercial fireproofing and insulation company with locations in Chicago and Indianapolis. For the trailing twelve months ended December 31, 2016, Midwest Fireproofing generated approximately $20 million in annual revenue.
Jerry Volas, Chief Executive Officer of TopBuild stated, "Midwest Fireproofing is an excellent strategic addition to TruTeam, our installation business, complementing our existing commercial product offering in a key area of the country. Their strong regional contractor relationships will provide additional avenues of growth for our entire heavy commercial team. We are also very pleased both founders of the firm, Aaron Gilbert and Mark Stemmons, will continue to manage and grow the business while leading their teams in Chicago and Indianapolis."
Aaron Gilbert, co-founder of Midwest Fireproofing, added, "We are excited to join TruTeam and believe this presents a great opportunity for everyone at Midwest Fireproofing as TruTeam continues to execute on its heavy commercial growth plans. Having had a four-year working relationship with TruTeam's Chicago operation, we are very comfortable with the strategic and cultural fit of the two companies."
TopBuild Corp., headquartered in Daytona Beach, Florida, is the leading purchaser, installer and distributor of insulation products to the U.S. construction industry. We provide insulation services nationwide through TruTeam®, which has over 175 branches and our Service Partners® business distributes insulation from over 70 branches. We leverage our national footprint to gain economies of scale while capitalizing on our local market presence to forge strong relationships with our customers. To learn more about TopBuild please visit our website at www.topbuild.com.
Investor Relations and Media Contact
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/topbuild-acquires-midwest-fireproofing-300392131.html
SOURCE TopBuild Corp.